Alcatel set to announce 32 bln dollar Lucent takeover
( 2001-05-28 15:11 ) (7 )

French telecommunications equipment maker Alcatel SA is about to announce a roughly 32-billion-dollar (37.25-billion-euro) acquisition of US group Lucent Technologies Inc., the Wall Street Journal Europe reported Monday.

The two telecommunications companies had made progress in finalizing the deal in weekend negotiations, sources familiar with the discussions told the newspaper.

A deal could be presented to the companies' boards for final approval on Tuesday, with an announcement of the takeover on Wednesday, the sources said.

The newspaper said the sources said some work remained to be done on Alcatel's plan of an all-stock acquisition of Lucent, and the deal could still founder.